subject: Understanding Credit Cards: Pre Approved [print this page] There are many occasions when one receives emails that come along with offers for credit cards that are pre approved. Therefore, one need not get excited when such mails are received but can be assured that the company finds the individual as a probable customer after screening the credit history of the customer.
Firstly go through the fine print with conditions if the credit card offers increase in credit. Credit card comparison must be done to get the best deal. Usually, if one has applied for an online credit card via the e-form but has met with denial, it maybe for a bad credit, or because of no fiscal history.
Knowing this the company sends an offer of a pre-approved credit card. Depending on your credit history, these pre approved cards may be secured or otherwise. There are many sites which check all the details and make it simple to get an online visa credit card application. Many credit cards are available in the market so it's always good to compare cards before taking the final decision. Go through the offers and only then choose among the best credit card deals.
Different Types Of Pre Approved Credit Cards:
1. Pre Approved 'Poor Credit' Cards
With a bad credit history it is not difficult to find a Credit Card Company that offers a secured pre-approved credit card. This means that the customer needs to pay a deposit. In such a case the credit limit offered is usually the same as the amount of that deposit made. The rates of interest are high in these offers and most of the time the rewards associated is zilch. Before accepting such credit card deals or low interest credit cards check the credentials of the company and if it is a valid offer.
2. Pre Approved Cards for Students
If a student gets an offer of a pre approved student card ensure that you research for the best deals are available and take a well informed decision. Check out for companies to compare credit cards and identify which offer low rates of interest. A good offer would be around 15% to start with. However, if a parent with an excellent credit history offers to sign as collateral, the rate of interest would be much lower. You should ensue that the credit limit offered remains within limits that are manageable, especially in emergencies. Try and shop for a grace period of about 20-25 days.
How To Stop Cards that are Pre Approved?
If one needs to stop the credit card application forms that arrive uninvited in the mailbox, then all you have to do is say 'NO'. The personal information taken is then stopped from sharing to further business interests. Thus pre approved credit cards judiciously improve the credit rating. So buy 0 interest credit cards, but never lose focus of the credit score on record. The investment is worth the effort but only if it pays good dividend in the end. Your fiscal health is in your hands!
